Ship and boat building expenses in Canada have shown a consistent growth trend. From 2013 to 2023, the actual values increased from 1.2028 billion CAD to 3.3976 billion CAD, reflecting robust industry growth. The year-on-year growth varied, with notable peaks in 2014 (24.42%), 2015 (25.56%), and moderate growth thereafter. The last two years exhibited around 7% growth in 2022 and 2023. The five-year CAGR until 2023 stood at 8.84%, demonstrating a stable upward trajectory.

Forecast data suggests continued growth but at a decelerating pace. The expenses are projected to reach 4.4811 billion CAD by 2028, with a forecasted five-year CAGR of 4.37% and total growth rate of 23.86% from 2024 to 2028.

Future trends to watch for:

Potential impact of technological advancements and automation in ship and boat building.
Global demand shifts and economic cycles affecting the marine industry.
Sustainability initiatives and regulations driving changes in material and energy use.
Potential disruptions or opportunities arising from geopolitical factors and trade policies.